York Technical College hosting event
Even the best business plan needs start-up money.
That's why York Technical College's Entrepreneur Network will host financing guru Bill Payne at 6 p.m. Tuesday to present "Let's Make a Deal -- Financing Options for Entrepreneurs."
Payne, an engineer who started his own electronic materials company in the 1970s and sold it 12 years later to DuPont, now makes his living investing in start-ups and speaking to entrepreneurs. Tuesday, his free presentation will offer advice on how local entrepreneurs can get the capital for their ideas.
"There's a whole sequence on where you go to get the money you need," Payne told The Herald on Tuesday. "If you need $5 million, you don't go to friends and family."
Payne said he'll explain how to approach family and friends for small investments. He'll also talk about landing major investments from angel investors and venture capitalists. He said the most common mistake entrepreneurs make is not presenting investors with a balanced plan. He'll spend time explaining how to avoid common mistakes.
"I think it's a golden opportunity," said Rock Hill entrepreneur Charles Robinson, founder of Prosperity Resources, a start-up human resources company. "I hope to soak up information like a sponge."
Robinson compared Payne to a sports agent, someone who can help maximize the profit of your product. He said he hopes to talk to Payne about how to fine-tune his company's strategies.
"He's the kind of person who can look at a business plan and immediately help you see what's profitable," Robinson said.
Payne reviews business plans through his Web site, www.billpayne.com, for a fee, but Tuesday, he'll provide six free consultation sessions for local entrepreneurs during his visit to Rock Hill. Anyone interested in a one-on-one session needs to submit a description (up to 500 words) of their business idea for consideration. Six people will be selected to meet with Payne for 15 minutes each before the event.
Business ideas should be submitted to Edie Dille, chairwoman, Entrepreneur Network Committee, 452 S. Anderson Road, Rock Hill, S.C., 29730. For more details, call (803) 981-7314 or e-mail edille@yorktech.com.
While attendance Tuesday is free, registration is required. To register, e-mail enrsvp@yorktech.com or call (803) 325-2888.
